Crypto trader says the break above $7100 may let BTC Price surge to $7870 Area
The world’s leading digital currency has turned bullish after trading in a bearish zone. Keeping in view this bullish trend, a crypto trader says that this breaking of bitcoin above the key level of $7100 may take it to the $7870 level.
Recently, a crypto whale sold an amount of $10 million worth XBT Bitcoin contracts to the BitMEX three times in a row consecutively. This made the price value of the coin turned bullish by reaching the $7200 area. However, the value of the coin went down slightly to the $7100 level.
So, now there are two crypto traders who have given different BTC predictions in the upcoming days. One gives the bullish prediction while the other gives the bearish prediction.
Break above the $7100 level may take BTC towards $7870
A crypto trader named Scott Melker says that the leading asset has recently broken above the $7100 level and this beak would let the price value of the coin surge to the area of $7870. However, he also said that this break could also result in the fall of the price value of the coin moving the coin below the $7100 level.
Tread lightly. That amazing bull div on the daily has been followed by hidden bear divs. The rally from a few days ago still looks more like relief than reversal for now. Mixed TA depending on the timeframe. Real potential bullishness starts above $7,800 or so. pic.twitter.com/MPWm6cb2Oa
— The Wolf Of All Streets (@scottmelker) December 20, 2019
He has been posting several tweets today. After that, he said in a tweet that a break of a blue line will confirm the bottom line. He pointed out that the red line shows resistance while the backline shows key support.
A break of the blue line would confirm a double bottom. The red line is still resistance – price is still making lower highs and lower lows for now. Move up the other day irrelevant for the moment. The black line is key support. Basically ranging between blue and black. pic.twitter.com/YyvnjNWEfP
— The Wolf Of All Streets (@scottmelker) December 20, 2019
BTC price will go down from $8300 to $6000
There was another prediction about the price value of the coin. A crypto trader, TraderSZ said that the price of the coin could go down from the level of $8300 to the $6000 mark. He stated that Bitcoin will firstly move up toward the $8300 mark, then it will decrease down to the $600 area.
one of the swing setups id be looking for would be spike towards 8300, invalidation clean smash above 8650 targetting 6k then 4300 if it breaks below 6k. If we make a clean break above 8650, thats when i change my htf bias #btc
— TraderSZ (@trader1sz) December 20, 2019
Furthermore, he pointed out that a break below the $6k mark may take the BTC price to the $4300 level.
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